A prospective new land lease at the Roswell Air Center has been sent back to a Roswell City Council committee for reconsideration.
Frederick Issac Sheets II, president of General Airframe Support Inc., or GenAir, plans to expand the company’s hangar at the Air Center so that GenAir can get into aircraft maintenance and repair once it obtains the required certification. It now focuses on reclaiming, restoring and reselling aircraft parts.
GenAir, which has relocated its headquarters to Roswell, built a $1.5 million hangar at the Air Center in 2017, but could not make it as large as it wanted when the project went over budget.
Now Sheets said he can enlarge the hangar to accommodate big planes. In a separate matter, he also is negotiating with the city about building a new tear-down pad on the airfield.
As it stands now, the land lease for the extended hangar near Challenger Street would be with an affiliated company, The FIS Co. LLC. It would be for 19,000 square feet and have a 30-year term. Rent would be $348 a month for the first year. Annual increases also would be part of the deal.
The land lease had been reviewed at a Roswell City Council Legal Committee meeting on May 28. That group decided 3-0 to approve it for consideration of the full City Council for its Thursday meeting.
But Councilor Judy Stubbs, also the chair of the Legal Committee, said that she recommended pulling that item from the City Council consent agenda Thursday and returning it to the Legal Committee. The City Council voted to approve that decision.
Stubbs said that some questions still exist about the matter, including the length of the lease and the rent.
“It had a few flaws that came to my mind,” she said. “One is that it is a 30-year land lease, and I didn’t feel that the amount was really adequate, considering the fact that — even though they’re putting close to a $2 million building on this property — the property is still going to enhance in value no matter who puts the hangar on it.”
The Legal Committee is expected to meet again June 25, with the next City Council meeting now scheduled for July 14.
“I think it is in the interest of both parties concerned that we look at this lease a little bit further,” she said.
“The council just has a few more questions,” Sheets said. “And, as far as I understand, everything is still planned for an October completion date.”
Senior Writer Lisa Dunlap can be reached at 575-622-7710, ext. 351, or at firstname.lastname@example.org.